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Binance Executive Arjarwalla Traced To Kenya as Nigeria Plans Extradition

Published

7 months ago

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Fleeing Binance executive Nadeem Arjarwalla is reportedly traced to Kenya following his escape from custody. A new report from local media outlet Punch says the Nigerian Government has traced the Binance executive with steps taken towards extradition. 

According to the report, sources within the Presidency disclosed that Arjarwalla went into hiding once he arrived in Kenya but his cover has been blown. This could open another chapter in the whole saga as the country looks to extradite the Binance executive. 

Arjarwalla was detained alongside another Binance executive after a meeting held with the Nigerian government over Binance’s regulatory woes in the country. 

“We have found him. We know where he is. He is in Kenya, and we’re working with the authorities to bring him back to Nigeria.” 

Possible Extradition for Arjarwalla 

The Nigerian government is now collaborating with international security agencies like Interpol and the Kenyan Police to bring Arjarwalla to the country to face charges leveled against him. 

“All hands are on the deck. The government and all the security agencies are working hard in conjunction with the Kenyan authorities and INTERPOL, to ensure his return to Nigeria to face the charges brought against him,” the source added. 

According to the report, other sources also claimed the Nigerian government was working to extradite Arjarwalla. 

Binance Executive Pleads Not Guilty 

The Nigerian government accused Binance of facilitating trades through its P2P platform leading to the fall of the local currency. Binance executives Arjarwalla and Tigran Gambaryan were arrested in February despite a backlash from the cryptocurrency industry. 

The county’s Economic and Financial Crime Commission (EFCC) took over the investigation from the National Security Adviser (NSA). The anti-graft agency slammed the exchange and its two executives with five counts bordering on money laundering. 

While Arjarwalla remains out of the country, Gambaryan pleaded not guilty to charges with his wife and other supporters calling for his release after several weeks in detention. Meanwhile, Binance has deactivated its naira P2P service following a probe by the government.

Also Read: Mainland Chinese Cannot Buy HK Bitcoin ETFs, Issuers Clarify

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Blockchain

Sui and Franklin Templeton Team Up To Drive DeFi Adoption: Details

Published

21 hours ago

on

November 22, 2024

By


Sui Foundation has recently made an important partnership agreement with Franklin Templeton Digital Assets, which will help develop DeFi solutions on the Sui platform. This will give the Sui ecosystem developers support and additional guidance in enhancing blockchain solutions and products.

Franklin Templeton Joins Sui Foundation to Support Blockchain Projects

A recent blog post reveals that Franklin Templeton Digital Assets will partner with the Sui Foundation to support developers deploying and working on Sui. The partnership will increase the use of decentralized finance (DeFi) in the execution of various projects and the deployment of enhanced blockchain technologies.

Franklin Templeton brings years of experience in blockchain-based technology, including node validation and investment strategies. Its dedicated research team focuses on tokenomics and leverages data science for informed decisions. Key projects highlighted by the partnership include Deepbook, Karrier One, and Ika, which showcase the scalability and security of the blockchain.

Sui Blockchain Records Impressive DeFi Growth Metrics

The blockchain has demonstrated remarkable performance in the DeFi sector since its mainnet launch in May 2023. It recorded a 675% growth in total value locked (TVL) and a 956% increase in DeFi transaction volume. These metrics underscore the platform’s efficiency, enabled by its massive parallelization technology, low transaction latency, and consistently low gas fees.

Projects like Deepbook and Karrier One benefit from Sui’s advanced infrastructure, driving developer interest and ecosystem expansion. The partnership with Franklin Templeton will boost this growth trajectory further.

Can Price Soar to $18 After 740% Rally?

Additionally, the blockchain’s native token, SUI, has seen a 740% price increase in just four months, outperforming other Layer-1 blockchains like Solana. The token is currently trading at $3.51, with analysts predicting that the SUI price could reach $18 during this bull cycle, provided it breaks key resistance levels at $3.93. Market analysts note that the price rally was driven by the blockchain’s innovative capabilities and growing DeFi adoption. 

Recently, the Sui Network faced a two-hour outage that temporarily halted block production. Validators encountered technical challenges, prompting the Sui team to deploy a fix swiftly. While the network resumed normal operations, the incident raised concerns among the community.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bangkok to host Open AGI Summit and DevCon Conference to promote ethical AI development

Published

3 weeks ago

on

October 31, 2024

By


Bankok to host Open AGI Summit and DevCon Conference to promote ethical AI development
  • Bangkok will host the Open AGI Summit on November 13 alongside DevCon 2024.
  • The summit focuses on ethical AI development through decentralized governance models.
  • Prominent speakers include Pramod Viswanath and Sandeep Nailwal from leading firms.

Bangkok is set to be the epicenter of innovation as it hosts the Open AGI Summit on November 13, 2024, in conjunction with DevCon, a major blockchain developer conference.

These unique events aim to explore the intersection of Artificial General Intelligence (AGI) and decentralized technologies, fostering dialogue about the ethical implications of AI in a rapidly evolving digital landscape.

Supported by flagship partners including Google Cloud, Sentient, Polygon Labs, and SCB 10X|SCBX, the Open AGI Summit promises to engage both AI and blockchain communities.

All eyes on the Open AGI Summit

As the world advances toward AGI, concerns about centralized control and potential societal risks are becoming increasingly prominent. The Open AGI Summit seeks to address these anxieties by examining how decentralized, blockchain-based governance models can lead to safer and more transparent AI development.

By emphasizing collaboration and ethical dimensions, the summit aspires to ensure that AGI serves as a tool for universal benefit and prosperity.

The summit will feature prominent voices from the fields of AI, blockchain, and web3, including Pramod Viswanath, a professor of engineering at Princeton University, and Sandeep Nailwal, co-founder of Polygon.

Nailwal highlights the critical decision society faces: to allow a handful of corporations to dominate AI technology or to embrace a future where AI is open, transparent, and accessible to all. He asserts that blockchain technology can ensure the equitable distribution of AI benefits, guided by collective values.

Discussions at the summit will cover essential topics, including advancements in AI safety research, decentralized governance structures, and ethical considerations in AI development.

Attendees can expect a deep dive into the innovative synergy between AI and blockchain, emphasizing emerging applications that could redefine industries.

Ultimately, the Open AGI Summit aims to bridge the gap between academia, industry, and the decentralized AI community, fostering collaboration towards responsible AGI development.

This convergence is essential for ensuring that AI technologies are built with a commitment to ethical principles and societal benefit, marking a significant step toward a safe and beneficial future for AGI.

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Bankok to host Open AGI Summit and DevCon Conference to promote ethical AI development

Published

3 weeks ago

on

October 31, 2024

By


Bankok to host Open AGI Summit and DevCon Conference to promote ethical AI development
  • Bangkok will host the Open AGI Summit on November 13 alongside DevCon 2024.
  • The summit focuses on ethical AI development through decentralized governance models.
  • Prominent speakers include Pramod Viswanath and Sandeep Nailwal from leading firms.

Bangkok is set to be the epicenter of innovation as it hosts the Open AGI Summit on November 13, 2024, in conjunction with DevCon, a major blockchain developer conference.

These unique events aim to explore the intersection of Artificial General Intelligence (AGI) and decentralized technologies, fostering dialogue about the ethical implications of AI in a rapidly evolving digital landscape.

Supported by flagship partners including Google Cloud, Sentient, Polygon Labs, and SCB 10X|SCBX, the Open AGI Summit promises to engage both AI and blockchain communities.

All eyes on the Open AGI Summit

As the world advances toward AGI, concerns about centralized control and potential societal risks are becoming increasingly prominent. The Open AGI Summit seeks to address these anxieties by examining how decentralized, blockchain-based governance models can lead to safer and more transparent AI development.

By emphasizing collaboration and ethical dimensions, the summit aspires to ensure that AGI serves as a tool for universal benefit and prosperity.

The summit will feature prominent voices from the fields of AI, blockchain, and web3, including Pramod Viswanath, a professor of engineering at Princeton University, and Sandeep Nailwal, co-founder of Polygon.

Nailwal highlights the critical decision society faces: to allow a handful of corporations to dominate AI technology or to embrace a future where AI is open, transparent, and accessible to all. He asserts that blockchain technology can ensure the equitable distribution of AI benefits, guided by collective values.

Discussions at the summit will cover essential topics, including advancements in AI safety research, decentralized governance structures, and ethical considerations in AI development.

Attendees can expect a deep dive into the innovative synergy between AI and blockchain, emphasizing emerging applications that could redefine industries.

Ultimately, the Open AGI Summit aims to bridge the gap between academia, industry, and the decentralized AI community, fostering collaboration towards responsible AGI development.

This convergence is essential for ensuring that AI technologies are built with a commitment to ethical principles and societal benefit, marking a significant step toward a safe and beneficial future for AGI.

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